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Although I am a child of the 80s, albeit a young child, I admit that I knew nothing about the hit TV series ‘Dallas’ until a blogger recently suggested that the series that ran from 1978-1991 tainted America’s opinion on the oil and gas industry by chronicling shady business dealings of oil tycoon and ranchman J.R. Ewing and his family.

The soap opera-like series, which included fantastic drama for television like sex scandals, wealth, unscrupulous business practices and a slew of dysfunctional family dynamics helped catapult the series into stardom after a slow start.

There’s no denying the influence the media – whether it’s through print, television or online – has on public opinion and perception, which made her comment interesting to me. For those of you who were either fans or simply knew of the show during the 80s, is it accurate to say that the series negatively influenced America’s perception of the oil and gas industry?

With a new ‘Dallas’ series slated to begin on TNT next summer, what affect, if any, do you think this series will have on the oil and gas industry now? Do you think any aspects of the political landscape the oil and gas industry faces today will be apparent in the script?

For those of you who like numbers, I’ve done an informal, not scientific survey of our clients to find out some averages of their operations. There are a wide variety of ranges here, as obviously terrain, depths, and other factors play a large hand in prices, but I think you’ll find the results interesting.

Grouped by state, I’ve averaged the number of wells, number of investors, cost of drilling and/or completion, if the wells are vertical or horizontal, what the average success rate is of the wells drilled, how long it takes to recoup drilling and completion costs and begin making a profit and how many wells, if any, they’ve personally invested in and why.

Enjoy!

Kansas

Average No. of Wells: 113

Average No. of Investors: 21

Average Cost for Drilling and/or Completion: $125,000-450,000

Wells primarily vertical or horizontal or both: Vertical

Company’s average success rate for wells drilled: 63.67%

How long it takes on average to make a profit on a well: 10 months

Why or why haven’t you personally invested in wells in your area: Because it was a good deal

Texas

Average No. of Wells: 24

Average No. of Investors: 15

Average Cost for Drilling and/or Completion: $250,000-2 million

Wells primarily vertical or horizontal or both: Both

Company’s average success rate for wells drilled: 73%

How long it takes on average to make a profit on a well: 18 months

Why or why haven’t you personally invested in wells in your area: We’ve invested in all of ours because it’s a great investment; Quite simply to return a profit and make a living; None because I haven’t had the money or opportunity to

Louisiana

Average No. of Wells: 15

Average No. of Investors: 19

Average Cost for Drilling and/or Completion: $1.5 – 6 million

Wells primarily vertical or horizontal or both: both

Company’s average success rate for wells drilled: 10%

How long it takes on average to make a profit on a well: 3 years

Why or why haven’t you personally invested in wells in your area: Zero, but I might take the plunge when the risk/reward is right for me

Ohio

Average No. of Wells: 154

Average No. of Investors: 7

Average Cost for Drilling and/or Completion: $50,000-450,000

Wells primarily vertical or horizontal or both: Both, mostly vertical

Company’s average success rate for wells drilled: 81%

How long it takes on average to make a profit on a well: 45 months

Why or why haven’t you personally invested in wells in your area: For tax advantages and the return on investment; to support our clients; none because I prefer more liquid investments

New York

Average No. of Wells: 150

Average No. of Investors: 8

Average Cost for Drilling and/or Completion: $325,000

Wells primarily vertical or horizontal or both: Vertical

Company’s average success rate for wells drilled: N/A

How long it takes on average to make a profit on a well: N/A

Why or why haven’t you personally invested in wells in your area: N/A

Pennsylvania

Average No. of Wells: 103

Average No. of Investors: 18

Average Cost for Drilling and/or Completion: $90,000-325,000

Wells primarily vertical or horizontal or both: Both

Company’s average success rate for wells drilled: 95.5%

How long it takes on average to make a profit on a well: 3.5 years

Why or why haven’t you personally invested in wells in your area: N/A

West Virginia

Average No. of Wells: 151

Average No. of Investors: 7

Average Cost for Drilling and/or Completion: $200,000-3 million

Wells primarily vertical or horizontal or both: Both

Company’s average success rate for wells drilled: 92.5%

How long it takes on average to make a profit on a well: 2.5 years

Why or why haven’t you personally invested in wells in your area: Because of the return on investment, None because I’m only an employee

Oklahoma

Average No. of Wells: 35

Average No. of Investors: 3

Average Cost for Drilling and/or Completion: $200,000-350,000

Wells primarily vertical or horizontal or both: Vertical

Company’s average success rate for wells drilled: 66%

How long it takes on average to make a profit on a well: 2 years

Why or why haven’t you personally invested in wells in your area: N/A

Wyoming

Average No. of Wells: 29

Average No. of Investors: 15

Average Cost for Drilling and/or Completion: $600,000-1.1 million

Wells primarily vertical or horizontal or both: vertical

Company’s average success rate for wells drilled: N/A

How long it takes on average to make a profit on a well: 1 year

Why or why haven’t you personally invested in wells in your area: None because the price tag is too high